BTC Daily Time Frame
Bitcoin technical analysis
The king of cryptocurrencies showed a good price performance during the past days and grew nearly 20%. In the daily time frame, Bitcoin is approaching the long-term resistance zone of $32,000 and has been fluctuating between the price range of 30Kto
31K in the past 7 days.
In the continuation of the upward trend, if the trading range area is broken to the top of the important resistance area of 32K dollars, the way to reach the resistance of 40K will be easy. The RSI indicator is in the +70 region, which indicates oversaturation.
The second scenario for Bitcoin is to move to the bottom of the short-term support area of $30,000 and if it breaks, it will reach the important resistance area of $26,600.
Major resistances: $32,000 and $40,000
Major support: $30,000 and $26,600
NFA
The king of cryptocurrencies showed a good price performance during the past days and grew nearly 20%. In the daily time frame, Bitcoin is approaching the long-term resistance zone of $32,000 and has been fluctuating between the price range of 30Kto
31K in the past 7 days.In the continuation of the upward trend, if the trading range area is broken to the top of the important resistance area of 32K dollars, the way to reach the resistance of 40K will be easy. The RSI indicator is in the +70 region, which indicates oversaturation.
The second scenario for Bitcoin is to move to the bottom of the short-term support area of $30,000 and if it breaks, it will reach the important resistance area of $26,600.
Major resistances: $32,000 and $40,000
Major support: $30,000 and $26,600
NFA
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